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23rd Jun 2021. 7.48am

Regency View:

Morning Report – Wednesday 23rd June

FTSE to open at 7,099 (+9 pts)

Comments from Fed Chair Jerome Powell seemed to calm markets yesterday, ending two consecutive sessions of wild swings.

Speaking before a U.S. House of Representatives panel, Mr Powell said “we will wait for evidence of actual inflation or other imbalances”.

Our Risk Barometer looks bullish as we head into the European open, with gold and bond yields consolidating near short-term lows, and stocks rallying.

S&P 500+0.51%Bullish for UK stocks
Hang Seng+1.42%Bullish for UK stocks
Gold+0.11%Neutral for UK stocks
AUD/JPY+0.22%Bullish for UK stocks
US 10yr Yield-1.77%Neutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE form a small ‘doji’ candle right on the mid-point between last Wednesday’s high and Monday’s low – indicating that the market is indecisive and in short-term equilibrium.

We are still of the few that a retest of the broken trendline should see selling pressure increase.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.